Traders Purchase High Volume of Call Options on Celestica (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of some unusual options trading on Thursday. Stock traders acquired 16,316 call options on the stock. This is an increase of 97% compared to the average volume of 8,297 call options.

Celestica Trading Up 8.2 %

Shares of Celestica stock opened at $123.57 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a 52 week low of $32.80 and a 52 week high of $133.66. The stock has a 50 day moving average price of $98.48 and a two-hundred day moving average price of $72.18. The stock has a market capitalization of $14.38 billion, a PE ratio of 33.04 and a beta of 2.25.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLS. TD Securities boosted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. TD Cowen increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.64.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Large investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC bought a new position in shares of Celestica in the fourth quarter valued at approximately $30,000. Optimum Investment Advisors lifted its stake in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. R Squared Ltd purchased a new position in Celestica during the 4th quarter worth $51,000. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the 3rd quarter worth $30,000. Finally, UMB Bank n.a. purchased a new stake in shares of Celestica in the third quarter valued at about $34,000. Institutional investors own 67.38% of the company’s stock.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.